The Portland daily press., 1887-06-23
THE RAILROADS.
The Lowell Stockholders Favor a
Lease by the Maine.
The Measure Also FavorabIy consld.
cred by other Interested Parties.
A Summary Of the Important RusI-
ness Transacted.

LAWRENCE, Mass, June 2.-BoSt0n and
Maine stockholders, to the number of about
800, met in City Hall this morning.
One Of the directors read the proposed
leases Of the Boston and Lowell, and the
Manchester and Lawrence road to the
Maine committee. There were 44,315 shares
voted on, resulting as follows: On leasing
the Boston and Lowell, yes 1900; no, 245.
For leasing the Manchester and Lawrence,
yes 1880; no, 245.
The directors were authorized to subscribe
for as many shares of stock as they saw fit
in the York Harbor and Beach railroad now
In construction at York beach.
MANCHESTER, N. H., June 22.-After
three hours debate today at Smyth's Opera
House the Manchester and Lawrence rail-
road stockholders voted to lease their line to
the Boston and Maine road for a period of
fifty years at an annual rental Of ten per
cent, to be paid in Semi-annual inStallments
of $4,000 on May and November 1st of each
year: the lessee to pay $16,666.67 November
lst, 1887, and at the expiration of the lease
S33, 1888 The lessee shall assume and de-
fend all suits against the lessor arising
from the operation of the road shall MAIN
tain the road under the laws of the State /;
shall see that the road is properly insured
and looked after and shall turn over the road
dltlon as when 1t commenced operating it.
Inc lessor shall not increase the capital
STOCK as now existing and issued without the
consent OF the lessee, and finally any and all
disagreements about the provisions of the
lease shall be referred to board Of arbtra-
tlon composed of referees appointed by each
party. which shall appoint third. Either
party failing to appoint referee, the New
Hampshire Board of Railroad Commission
ers shall perform the service for them. The
lease was ratified by vote Of 5113 for, to
luton calling for the lease, President Charles
A. Sinclair of Portsmouth, and Treasurer
g. Byron Chandler of this city, are appoint
ed committee on the part of the stOckhOl-
ders to execute the same.
BosToN, Juns 21.-The stockholders of the
Boston Il Lowell Railroad Corporation met
this morning at the passenger station in this
city to see If they would accept chapter 27S
of the acts Of the Legislature Of Massachu-
setts for the year. 1887, and authorize the
issue Of capital stock as provided in said act
third, to see If they would accept chapter 800
of the acts Of the Legislature for 1887, and
authorize the issue Of capital stock as pro-
vided in the said act; also to see if they
would accept chapters 376 and 3S6 of the acts
OF the legislature for 1887, and lastly to see
II they would approve the lease of the road
property and franchise to the Boston &
Maine railroad for ninety-nine years from
Jan. IL 1906 Oh Tie dlTtdQy agreed
on by the directors. President Morey called
the meeting to order, there being large at
tendance OF stockholders. The first business
was the voting on the acceptance of differ
ent acts Of the Legislature. They were each
voted on separately, and were adopted unan-
mouSly by viva v0ce vote.
Chapter 27S authorizes the Boston and
Lowell Railroad Corporation to purchase be-
fore July /, 1888. all the LANDS, wharves,
piers, docks, rights, privileges, franchises
and other property OF the Mystic River Cor
poration, the Ocean Terminal Railroad Com
pany, and the Ocean Terminal Railroad Dock
Elevator Company, upon terms agreed upon
by the directors Of the respective corpora
ti0ns. 1t also authorizes the Boston and
Lowell Road to increase its capital stock to
such an amount, not exceeding S3J0,0O0, as
may be necessary to carry into effect the pro-
visions of the act. Chapter 800 allows the
Boston and Lowell Road to build piers,
and elevators on the Mystic Riv-.
or below Chelsea Bridge and to increase its
capital stock by an amount not exceeding
S5oO,OCQ to carry out the provisions of the
act Chapter 376 allows the Lowell Road.
Harbor and Land Commissioners, and sub
ect to the provisions of the act, build and
maintain on piles in and over the tidewaters
Of Charles River on the Boston side thereof,
IN the area lying between the present freight
andipassenger bridges of said railroad cor
poration, and also in and over the
.ldewaters of Charles River, and Miler's
River on the Cambridge side thereof, in
The area bounded northwesterly by Austin
street, southwestetly by the land and passen-
ger bridge OF said corporation, and north
sasterlY by the Eastern railroad bridge, such
wharves and piers as the said board, upon
petition and after public notice and hearing,
nay determine that the public convenience
md necessity require for the purpose afore-
said" These structures are restricted by
fn fa1r Nlawx pOR =.
titled AN act to amend an act to authorize
he Boston and Lowell corporation to con-
'truct the Central Massachusetts Railroad,
% issue additional bonds and to create q
sinking fund for the payment thereof"
The matter of leasing the road to the Bos-
,on and Maine it was decided to vote on by
PALLET. Messrs, John G. Paige, N. L. Eaton
md John b. Weir were appointed commit
zee to receive and count the ballots. At
lbout 1.30 o'clock the result of the balloting
vas announced. The whole number Of
shares represented was 1924; total number
road, 80, 2S6; against, 81.
A special meeting of the stockholders of
he Eastern Railroad was held at the station
It II. 10 a. m. today, President Hunnewell in
he chair. The call Of the meeting and the
ecords OF the annual meeting were read by
Jlerk Francis j. Amory. BY request he also
ead copy Of the proposed leases by the
3oston q Maine Railroad of the franchises
md property of the Boston & Lowell Rail.
Dad Corporation and Of the Manchester Il
lawrence Railroad. The Chair appointed
dessrs. w. b. Lawrence, III. j. Stevens and
dwight Braman as committee to receive,
ort and count ballots on the stock vote to
confirm the above leases on the terms au-
horized by the directors. During the ballot
ng it was voted on motion Of Mr.. II. j. Ste
'ens. to appoint Mr.. S. c. Lawrence as the
)erson to approve bonds issued by the COM
N a nf fhn &c ~
he Legislature of Massachusetts for the
'ear 1887, and to certify that the same are is
ued and recorded according to law. On mo-
ion of Mr.. s. G. Lawrence, it was voted to
approve of subscription by the Boston &
Maine Railroad to the stock of the York
darbor and Beach Railroad, as and to an
mount authorized by the directors.
The result of the ballot of the Eastern
abroad stockholders was not announced at
/ late hour, but large majority are known
fnNr tlaa fflv, .fA -. Al